NOAH Impact Fund

Housing Justice Center brought a class action lawsuit against the apartment owners of Crossroads at Penn, now Concierge Apartments in Richfield. A settlement awarded the displaced Crossroads tenants $650,000, with about $290,000 reserved for the tenants, and over $200,000 designated for the NOAH Impact Fund. The $200,000 will be used to assist tenants in NOAH…
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A shortage of apartments and rising rents in the Twin Cities metro have made area apartment buildings a hot commodity among national investors who are often able to improve the buildings and increase rents. That is a threat to the already tight supply of rentals that are affordable to the lowest-wage families. And that is…
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Aeon has acquired 10 properties to preserve the affordability of 768 apartments in the Twin Cities region. The $77 million transaction marks the largest acquisition in the 31-year history of the nonprofit developer, owner, and manager of affordable homes. The purchase also represents the first project funded by Greater Minnesota Housing Fund’s (GMHF’s) recently formed…
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